AccountingBookkeepingMaster ClassSmall Business & Startups

Need a Local Accountant? Here’s What You Actually Need

By February 1, 2017 No Comments

local accountant Atlanta

When you’re holding the reigns of a growing business, it can be difficult to take a step back to determine the level of financial expertise you need to take your startup to that next level. As your business grows, so do your financial needs. And while you may think you’re on the market for a local accountant, you may need something else entirely. It’s your job to determine what level of financial guidance will propel your business forward and then find the right partner to help you steer the ship.

That’s where Acuity comes in.

We recently received an #AskAcuity question that applies perfectly here: “What’s the difference between a bookkeeper, controller and CFO?” Here is our very own, Matthew May, in a recent Facebook Live broadcast to give you insight into what type of financial services would be best for your growing business:

CFOs, Controllers and Bookkeepers…Oh My!

Acuity’s financial experts can be broken down into three distinct categories – bookkeepers, controllers and CFOs. These three roles typically encompass the core of an organization’s accounting staff and offer unique skills to take care of all of your accounting needs.

Bookkeepers: Tactical Masters

Our bookkeepers ensure that no tactical duty goes unnoticed. Bill pay, invoice processing, bank statement reconciliation, expense report processing – these are all things we rely on our bookkeeping crew for. In today’s accounting ecosystem, bookkeepers are (or at least should be) evolving into cloud accounting specialists where they are empowered to recommend the best tools to help you streamline and integrate your bookkeeping process.

Bookkeepers are ideal for those in the angel or friends and family round of a venture cycle.

Controllers: Historical Ninjas

Next up, we have controllers. We rely on this group for anything complex that’s backward looking. Tasks like deferred revenue and complex GAAP entries are perfect examples. A controller can help growing companies manage their cashflow and get them to the next level.

Once your startup gets a venture round, it’s time to look into controller services. To attract sophisticated investors, businesses at this stage will need to present their financials in a more public standard format (AKA GAAP accounting).

Controllers are ideal for businesses in the who have completed at least a $3 million raise moving to full GAAP financials, looking to meet the needs of their investors.

CFOs: Forward-Looking Strategists

Last, but not least, you’ve got CFO services. This role takes charge of the financial management of your company. They offer strategic insights, handle complex, forward-looking accounting needs. Things like pricing and financial modeling are good examples. CFOs can perform all functions of a controller but they also look at the greater story behind the numbers, not just the numbers themselves, to make data-driven and strategic business decisions.

CFOs are ideal for companies at any stage but can sometimes be too expensive for growing businesses. Acuity offers part-time or on-demand CFO services so you can gain financial expertise without breaking your bottom line.

Not sure what level of financial service is right for your business? Reach out to our team of financial experts. We’ll help take your growing business to the next level. And don’t forget to “like” the page and tune into Acuity’s Facebook every Monday at 2:00pm EST to catch another round of #AskAcuity.

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